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Full-Text Articles in Law
What Is The Law’S Role In A Recession?, Gabriel V. Rauterberg, Joshua Younger
What Is The Law’S Role In A Recession?, Gabriel V. Rauterberg, Joshua Younger
Law & Economics Working Papers
The last two years have seen astonishing changes to how fiscal and monetary authorities in the developed world manage the economy. In the face of the largest global economic contraction since World War II, governments embarked on massive campaigns of economic stimulus, far outpacing the response to the Global Financial Crisis. Central banks similarly engaged in financial intervention on a scale not seen in eighty years. Over roughly a year, the Federal Reserve alone doubled its asset holdings from around $4 trillion to $8 trillion, making for arguably the most aggressive expansion of the United States’ money supply since the …
The Federal Reserve As Last Resort, Colleen Baker
The Federal Reserve As Last Resort, Colleen Baker
University of Michigan Journal of Law Reform
The Federal Reserve, the central bank of the United States, is one of the most important and powerful institutions in the world. Surprisingly, legal scholarship hardly pays any attention to the Federal Reserve or to the law structuring and governing its legal authority. This is especially curious given the amount of legal scholarship focused on administrative agencies that do not have anywhere near as critical a domestic and international role as that of the Federal Reserve. At the core of what the Federal Reserve does and should do is to conduct monetary policy so as to safeguard pricing, including that …
Europe: A Single Currency And A Single Central Bank?, Hugo J. Hahn
Europe: A Single Currency And A Single Central Bank?, Hugo J. Hahn
Michigan Journal of International Law
This article follows the address delivered by the author in French at the Founding Assembly of the European Society for Banking and Financial Law in Paris on Nov. 5, 1988.